Matthew Charles Brown Sells 3,811 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

Altair Engineering Inc. (NASDAQ:ALTR) CFO Matthew Charles Brown sold 3,811 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total value of $425,040.83. Following the transaction, the chief financial officer now owns 69,394 shares of the company’s stock, valued at $7,739,512.82. This represents a 5.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Matthew Charles Brown also recently made the following trade(s):

• On Monday, December 23rd, Matthew Charles Brown sold 1,048 shares of Altair Engineering stock. The stock was sold at an average price of $108.90, for a total value of $114,127.20.

Altair Engineering Price Performance

Shares of Altair Engineering stock traded up $0.05 during trading hours on Thursday, hitting $111.65. 274,449 shares of the company’s stock traded hands, compared to its average volume of 767,923. The stock has a market capitalization of $9.50 billion, a price-to-earnings ratio of 656.82, a PEG ratio of 10.75 and a beta of 1.42. Altair Engineering Inc. has a 12-month low of $75.71 and a 12-month high of $113.12. The company has a fifty day simple moving average of $110.21 and a 200-day simple moving average of $102.03.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings results on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. The company had revenue of $192.63 million during the quarter, compared to the consensus estimate of $182.98 million. On average, analysts forecast that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Altair Engineering

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. NBT Bank N A NY raised its stake in shares of Altair Engineering by 76.4% during the 4th quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after purchasing an additional 107 shares during the period. Blue Trust Inc. lifted its holdings in shares of Altair Engineering by 572.1% during the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after acquiring an additional 246 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Altair Engineering by 77.0% in the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after purchasing an additional 124 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in Altair Engineering in the fourth quarter worth approximately $37,000. Finally, GAMMA Investing LLC grew its holdings in shares of Altair Engineering by 14.6% during the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after purchasing an additional 93 shares during the last quarter. Institutional investors own 63.38% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on ALTR shares. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $113.00 price target on shares of Altair Engineering in a report on Monday. Wolfe Research downgraded shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. William Blair reaffirmed a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. Finally, Loop Capital reiterated a “hold” rating and issued a $113.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat.com, Altair Engineering currently has a consensus rating of “Hold” and a consensus target price of $100.83.

Altair Engineering Company Profile

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation and design, high-performance computing, data analytics, and artificial intelligence in the United States and internationally. It operates in two segments, Software and Client Engineering Services.